July 23, 2020

IOC and federations can foot postponed Tokyo Games bill – but cancellation ‘would be disaster’

Lausanne (AFP) – The International Olympic Committee, thanks to its vast reserves, and international federations, many of which have borrowed money, can cope with the postponement of the Tokyo Games, but a cancellation would have disastrous consequences, experts say.Cushioned by a dozen or so wealthy sponsors, including the French IT group Atos which has just extended its partnership until 2024, and with marketing contracts and television rights still on the rise, the IOC’s future looks steady.With backing of almost one billion dollars, the IOC “has large reserves and insurance so I don’t thin…

source https://this.kiji.is/en/658843361625588833?c=648607265489716321

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